Tag: Social Security (United States)

Social Security Has Paid Benefits To My Dead Husband For A Year
Social Security Disability

Social Security Has Paid Benefits To My Dead Husband For A Year

Getty Images/iStockphoto Ann Brenoff’s “On The Fly” is a weekly column about navigating growing older ― and a few other things.
For the past 12 months, your tax dollars have been going to pay Social Security benefits to a dead man.
No, I am not engaging in any sort of attempt to defraud the Social Security fund.
Quite the contrary, I reported his death to the Social Security Administration immediately after it occurred and have been reporting it repeatedly ever since.
None of my two dozen or so calls ― or the day I took off work to visit my local Social Security office and paid $13 to park ― has changed the fact that, as of this writing, the SSA continues to deposit a monthly payment into the checking account I shared with my dead husband.
In fact, they also continue to pay his Medicare premium out of his benefit payment.
To quote Philip Moeller, a journalist and co-author of Get What’s Yours: The Revised Secrets to Maxing Out Your Social Security Benefits, “Among all of Social Security’s arcane rules, secrets, and claiming surprises, the greatest personal revelation to me has been that the agency often gives out confusing, inconsistent, and even flat-out wrong information.” Is there a #MeToo button for getting bad information from Social Security?
The Social Security Program Operating Manual System, the bible for agency workers, is virtually undecipherable to the untrained eye.
When it comes to understanding Social Security and Medicare, many people need to sit down with a human being.
An ongoing SSA survey finds that just 25 percent of people who call the agency’s toll-free number think they’ve received excellent service.

How big will my Social Security disability benefit be?
Social Security Disability

How big will my Social Security disability benefit be?

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Most people focus on the retirement benefits that Social Security pays.
More:How much will I get from Social Security if I earn $100,000?
Below, we’ll look more closely at how the Social Security Administration calculates disability benefits and what amounts you and your family members might be entitled to receive.
Can I get disability benefits under Social Security?
After that, though, the requirement goes up by half a year for every two additional years of age, topping out at 9.5 years for those age 60 or older.
For disability benefits, the SSA recognizes that if you’re disabled early in your career, there’s no way you’ll have a 35-year work history.
Specifically, the SSA does the following calculation: The result is the number of years of earnings included in your work history.
Spouses can get benefits if they’re 62 or older or if they’re caring for your child who’s disabled or under age 16 and receiving Social Security.
If the total payments on your account are greater than 150% to 180% of your primary insurance amount, then the SSA will limit the amounts paid to family members proportionately in order to stay under the family maximum.

1 Month Until Tax Day. Social Security Can Help You Prepare!
Social Security Disability

1 Month Until Tax Day. Social Security Can Help You Prepare!

This year the tax return filing deadline, or Tax Day, falls on April 17.
Social Security can help you prepare: If you receive Social Security benefits, Social Security provides you with an annual Benefit Statement, also known as the SSA-1099 or the SSA-1042S.
A Benefit Statement shows the total amount of benefits you received from Social Security in the previous year, so you know how much Social Security income to report to the IRS on your tax return.
If you misplaced your Benefit Statement or didn’t receive it by the end of January, and you currently live in the United States, you can get a replacement form quickly and easily with a my Social Security account.
Our Business Services Online suite of services can help individuals and small businesses prepare for tax day.
You can also check out our Information for Tax Preparers site to find out all the ways we can help you prepare for tax day this year and in the future.
A my Social Security account helps you out several ways during tax season and beyond.
In addition to getting your replacement Benefit Statement, you can check your Social Security Statement to verify your annual earnings are posted correctly.
By verifying that your earnings were reported correctly, you are helping us keep your earnings record accurate.
Sign in or create an account, and see what you all can do online with my Social Security.

Can I Get Social Security If I’m Not a U.S. Citizen?
Social Security Disability

Can I Get Social Security If I’m Not a U.S. Citizen?

Millions of Americans receive Social Security benefits, and nearly everyone who works in the U.S. pays the Social Security payroll taxes that help to fund the retirement program.
For the most part, the rules on Social Security for noncitizens are very similar to what U.S. citizens have to observe in order to get benefits.
Below, we’ll go through what it takes to get Social Security as a noncitizen and what actions you can take to ensure that you get the most you can from the program.
The general rule for noncitizens: Yes, you can get benefits if you would otherwise qualify for them The Social Security Administration is quite forthcoming in saying that most noncitizens can get Social Security benefits under certain circumstances.
Disability benefits have differing work credit requirements based on age, while spousal or survivor benefits are generally available under the separate rules that govern those benefit categories.
Living in the U.S. is a typical requirement for noncitizens to receive Social Security benefits, and ordinarily, the SSA will stop paying benefits to noncitizens if you’ve been outside the U.S. for six months in a row.
Even noncitizen spouses who’ve never been to the U.S. can sometimes get benefits under Social Security.
The key is whether the country in which they have legal residency or the country of which they’re a citizen has an appropriate treaty with the U.S. that allows for benefits.
Despite the fact that many people without legal immigration status work and pay payroll taxes in the U.S., you can’t receive benefits unless you obtain legal immigration status in the future.
Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we’re all after.

3 Reasons to File for Social Security on Time
Social Security Disability

3 Reasons to File for Social Security on Time

But we can actually start collecting as early as age 62 and as late as age 70.
Meet your full retirement age Here’s a quick way to see what your FRA is: Birth Year Full Retirement Age 1943 to 1954 66 1955 66 and 2 months 1956 66 and 4 months 1957 66 and 6 months 1958 66 and 8 months 1959 66 and 10 months 1960 or later 67 Your FRA matters, because you can make your benefit checks bigger by starting to collect them after your FRA and can make them smaller by starting to collect early.
Start Collecting at: Full Retirement Age of 66 Full Retirement Age of 67 62 75% 70% 63 80% 75% 64 86.7% 80% 65 93.3% 86.7% 66 100% 93.3% 67 108% 100% 68 116% 108% 69 124% 116% 70 132% 124% Given all that, you might now be convinced that you should wait until age 70 to start collecting, for the bigger checks.
Or maybe you’re aiming to start collecting at age 62, to help you retire early.
The Social Security Administration has explained that, “If you live to the average life expectancy for someone your age, you will receive about the same amount in lifetime benefits no matter whether you choose to start receiving benefits at age 62, full retirement age, age 70 or any age in between.”
Your higher-earning spouse is delaying collecting Another reason to start collecting your benefits on time (if not earlier) is if you’re married and your spouse has collected higher earnings from his or her jobs.
If you’re the one expecting smaller checks, you might start collecting your benefits on time, so that the two of you have some Social Security income arriving until the point at which both of you have checks arriving each month.
There are many other strategies for how best to time your Social Security benefits and for maximizing your benefits.
Because it’s a good compromise Ideally, many or most of us would retire early — starting to collect Social Security at age 62.
You may be able to retire right around your full retirement age and start collecting Social Security on time.

4 Ways Your Social Security Benefits Are Being Reduced
Social Security Disability

4 Ways Your Social Security Benefits Are Being Reduced

Full retirement age increases reduce aggregate payouts Back in 1983, the Reagan administration passed the last major overhaul of Social Security.
On the other hand, if you wait until after your full retirement age, you can actually further boost your monthly stipend.
When passed in 1983, the Amendments mapped out a two-year increase in the full retirement age, from 65 to 67, over a span of four decades.
As the full retirement age increase, future retirees have to either choose to wait longer to receive their full benefit, thus reducing the number of years they’re collecting a benefit, or accept a steeper reduction to their payout if they claim early, hurting their aggregate payout over the long run.
This new revenue stream applied ordinary federal income tax on 50% of single filers’ or couples’ Social Security benefits if they respectively earned more than $25,000 or $32,000 in adjusted gross income (AGI).
Further, an inflationary measure for seniors, such as the Consumer Price Index for the Elderly, would still fail to account for Medicare Part A (hospital insurance) expenses, causing it to still underrepresent the true inflation seniors are facing.
The current payout schedule is unsustainable beyond 2034 And as the icing on the cake, the Social Security Board of Trustees released its annual report in 2017 and found that the program will be facing a major funding gap over the next 75 years.
According to the report, Social Security is expected to begin paying out more in benefits than it’s generating in revenue by 2022.
That’s a reduction in benefits for current and future retirees.
This Stock Could Be Like Buying Amazon in 1997 Imagine if you had bought Amazon in 1997… a $5,000 investment then would be worth almost $1 million today.

3 Awful Reasons to Start Taking Social Security Benefits at 70
Social Security Disability

3 Awful Reasons to Start Taking Social Security Benefits at 70

Here’s how much you might amass, depending on how far from retirement you are: Growing at 8% for $5,000 invested annually $10,000 invested annually $15,000 invested annually 5 years $31,680 $63,359 $95,039 10 years $78,227 $156,455 $234,682 15 years $146,621 $293,243 $439,864 20 years $247,115 $494,229 $741,344 25 years $394,772 $789,544 $1.2 million 30 years $611,729 $1.2 million $1.8 million Some or much of your nest egg might be used to buy fixed annuity income, and/or it could be parked in dividend-paying stocks.
Remember also that many people who plan to retire at 70 or later end up retiring earlier, due to an unexpected job loss, or a health setback, or having to care for a loved one, among other reasons.
Because you think bigger checks will always mean getting more from Social Security You can make your retirement benefit check bigger than what you’d get if you started collecting at your full retirement age — by delaying when you start collecting.
First, understand that the age at which you can start collecting what the Social Security Administration has calculated to be your full benefits is referred to as your full retirement age (FRA).
For every year beyond your FRA that you delay starting to receive benefits, you’ll increase their value by about 8% — until age 70.
Remember, after all, that while delaying from 67 until 70 can add $400 to your monthly checks for the rest of your life (plus inflation-related increases), you’ll miss out on three years of $2,000 checks — 36 of them, which total $72,000.
Once you reach your FRA, though, you can collect Social Security benefits and can earn any amount of money, and your benefits won’t be reduced.
Thus, don’t wait until age 70 to start collecting your benefits just to avoid having your benefits reduced.
Good reasons to take Social Security benefits at 70 Despite the three bad reasons above for delaying starting to collect Social Security until 70, there actually are some good reasons to do so.
Remember, too, that there are even more ways to get the most out of Social Security.

When Should I Take Social Security?
Social Security Disability

When Should I Take Social Security?

You can start Social Security retirement benefits at any age between 62 and 70, with the amount of your monthly benefit increasing the longer you wait within that window.
Assuming I’m still working somewhere I enjoy when I approach Social Security eligibility, I expect to wait until at least until age 67 — my full retirement age — and likely until age 70.
Social Security levels a substantial penalty for collecting before full retirement age while still working.
That benefit converts to standard Social Security retirement benefits at my full retirement age.
If not, I might as well take the money earlier, while I can still make use of it.
It might seem counterintuitive, but the less confident I am in my ability to manage our household’s finances, the longer I expect to wait to collect Social Security.
This is because Social Security benefits increase with age up until age 70, and provide fairly reliable, inflation-adjusted income.
Collecting earlier means I can let more of our investment portfolio ride in growth-oriented investments for a longer period of time, potentially improving our overall financial position.
Note that I will not be eligible to collect any Social Security retirement benefits before the program’s Trust Funds are expected to empty around 2034.
Decisions, decisions On average, the overall Social Security benefits a person receives will be about the same no matter when he or she starts collecting.

Social Security Collaborates with America Saves Week
Social Security Disability

Social Security Collaborates with America Saves Week

Each year, American Savings Education Council and America Saves coordinate America Saves Week.
For years, Social Security has collaborated with America Saves Week to promote our shared mission of helping millions of people prepare for their future.
This year, the week is celebrated from February 26 through March 3.
Knowing this, it’s never too early to start planning for your future.
Savers with a plan are twice as likely to save successfully.
Pledge to save for America Saves Week.
Social Security’s “People Like Me” website has tailor-made information for preparing for your future.
Our richly diverse country is made up of countless backgrounds, ethnicities, and nationalities, yet we all want the same thing — a secure future.
You can see many of the diverse people we serve.
Younger people need to know that the earlier you start saving, the more your money can grow.

Montgomery couple convicted of Social Security, food stamps fraud

Montgomery couple convicted of Social Security, food stamps fraud

Montgomery Police Department data on criminal offenses in January 2018.
Wochit A Social Security office employee and her husband, both Montgomery residents, were convicted of fraud and witness tampering at the Federal Courthouse in Montgomery on Thursday.
More: The great divide: ‘Redlining’ kept neighborhoods separate, unequal “The trial evidence showed that the Palmers lied about their incomes and living arrangements for the purposes of fraudulently obtaining Social Security benefits on behalf of Nakia Palmer’s minor son,” the release states.
In total, the couple received $25,000 in improper benefits, money that the trial found was spent on a new vehicle.
Nakia Palmer was convicted of mail fraud, theft of government property, Social Security benefit fraud and food stamp fraud.
“Government benefit programs exist to ensure that those in need do not go without the necessities of life,” said United States Attorney Louis V. Franklin.
“The Palmers abused the system not out of need, but to maintain their lifestyles.
In carrying out their greedy scheme, the Palmers apparently thought that they were above the law.
I hope that this verdict sends the message that the theft of taxpayers’ dollars will not go unpunished.” A sentencing date has not yet been set.
The Palmers face fines and maximum sentences of 20 years’ imprisonment.